MTN Uganda in partnership with Mastercard and United Bank for Africa (UBA) have announced a new service that will enable quicker, safer and more convenient online payments globally. Through this partnership, MTN MoMo customers will use a virtual card to shop or make payments at the vast network of global outlets accepting Mastercard payments.

The launch of the virtual card that is known as MTN MoMocard will ensure MTN’s ability to provide its customers access to products and services previously a preserve of physical credit card holders while diversifying its mobile money portfolio. Additionally, the partnership will result in a wide range of cutting-edge digital payment solutions being introduced in Uganda.

“MTN MoMo is helping to connect more Ugandans to new forms of commerce,” said Wim Vanhelleputte, CEO, MTN Uganda. “Our affordable mobile financial services are positively impacting communities and lifestyles in Uganda. This is evidenced by the phenomenal growth in both the number of customers and volume of transactions over the years.”

Like a debit card that is linked to a bank account, the MTN MoMocard is linked to a customer’s MTN MoMo account but is accessible on any type of mobile phone. All a customer has to do is dial 165*70# and follow the instructions.

The MTN MoMocard can be used on any merchant platform that accepts Mastercard – locally and globally. Consumers that travel frequently for business or leisure, or those that shop online will enjoy the convenience of the easy-to-use solution.

Ngozi Megwa, VP of Market Development, Sub-Saharan Africa at Mastercard said, “Besides the ability to connect more consumers to a solution that enables them to pay without cash, the virtual card also supports the growth of e-commerce in Africa and supports businesses who want to appeal to a wider audience. Digital payments is shaping commerce, the backbone of any economy. We are excited about the MTN partnership and its ability to connect us with an audience hungry for innovation.”

The MTN MoMocard is powered by UBA, which facilitates the payment transactions online, both locally and internationally.

“UBA is excited to be the bank partner with Mastercard and MTN on this milestone project that not only enhances convenience for mobile money customers but also the utility of the service. The bank recognises the role of technology in enhancing financial services delivery and welcomes future similar partnerships,” said Johnson Agoreyo, the CEO of UBA.

Related Articles

In support of Rwanda’s Sustainable Development Goals, the Mastercard Center for Inclusive Growth has confirmed a grant of up to US $1 million over 3 years to support the growth of SME business owners in […]

Like this:

At Mobile World Congress, Mastercard and Unilever announced a strategic partnership to collaborate on a range of joint initiatives aimed at empowering small and micro businesses in emerging markets. By combining their expertise and reach, the […]

Like this:

Johannesburg has emerged as the most popular destination city in Africa in 2016, followed by Cape Town, with Kenya’s capital Nairobi coming in at position 12 in the ranking of the 13 African countries according […]

Leave a Reply

Be the first to comment

Specify a Disqus shortname at Social Comments options page in admin panel

advert:

About us:

For news, updates, views, analyses and reviews on tech and ICT developments in Kenya, Africa and the world.
For editorial and advertising partnerships, call +254-725-537823 / +254-735-537823 or send an email to aptantech@gmail.com or omondi.ouma@gmail.com.
We also provide Press Release writing and distribution services to local and regional news outlets. Don't hesitate to contact us for media coordination when you've an event.

Advert Dimensions:

For Advertising inquiries:

Above – click on the image for clarity – are the various advert placement positions and dimensions on the blog. For bookings and more info, get in touch through: +254-725-537823 / +254-735-537823 or send an email to: aptantech@gmail.com or omondi.ouma@gmail.com.